For those unfamiliar, Evernote is basically an app and service for mobile devices and computers where one can store notes, receipts, and etc. and save it in the cloud and sync it across multiple devices. It’s pretty handy for those on the go who need to have their notes with them at all times and don’t want the hassle of carrying around a flash drive or external hard drive. Despite Evernote originally starting off as a software and service-based business, interestingly it would seem that a third of their revenue is actually coming from the company’s online store, where they sell items such as backpacks, stylus, notebooks, and etc.
According to TechCrunch, the Evernote Market has managed to reach $1 million in sales in the first month alone just and now account for 30% of the company’s monthly revenue. In fact what makes this even more interesting is how some of their customers, 11% to be precise, don’t even use Evernote’s services or apps. We’re not sure if it’s the new Evernote Market, but CNET is reporting that Evernote Premium now accounts for about 61% of Evernote’s revenue, which is actually down from 89% prior to the launch of Evernote Market.
It’s actually a little bit ironic considering that Evernote was supposed to be the digital solution to notebooks, but they are now making a fair amount of money from the sales of such products. Why do you guys think that is?